what is up with jp morgan chase so inflated titles

Nov 23, 2019 22 Comments

i see lot of ppl moving to vp level at chase from like mid manager career levels.. whats up with those titles and how is compensation there?

like dev who was with me with around 15 years exp getting vp of software engineering role at chase

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TOP 22 Comments
  • Amazon zVjh74
    That’s typical banking culture. There are hundreds and hundreds of VPs. Probably the guy managing the local branch is also a VP. Don’t be impressed!
    Nov 23, 2019 1
    • Uber 󠀠
      Hundreds? Lol. Think thousands if not tens of thousands :)
      Nov 24, 2019
  • New oeeL53
    VP is basically L4 - L6 at F/G
    Nov 23, 2019 2
    • Apple onepunch
      L6 should map to ED or even MD
      Nov 23, 2019
    • New oeeL53
      Arguably L4 is too low for VP as well though. You can get L4 at F/G within 2-3 years, contrary to what most FAANGers think, VP will take 5-7 YOE, so VP is a wide range from mid L4 to mid L6 and basically terminal at a bank. MD / ED is pretty tough to get and you need to be a good politician / communicator to get there above your tech skills.

      This is all going by YOE, responsibility and % of levels within the company, NOT going by TC.
      Nov 24, 2019
  • New / Eng curcur
    At JP there are VPs everywhere. To the point that VP is becoming almost like the staring point for employees at JP.
    The way it works at JP is that there are two titles. One of them is a hierarchy title (Associate->VP->ED->MD...etc) and another is your actual job (developer, engineer...etc).
    Lots of those "VPs" at JP aren't even managing anyone! Just someone technical who's been with the bank 2 years started as an "Associate" hierarchy level and his manager gave him a good review at end of the year to get a pay bump. Guess what comes after "Associate"? Yes, VP.
    And you're still just an analyst/developer or something and aren't necessarily leading anything.
    In short, VP at JP Morgan means absolutely nothing outside of JP Morgan (and very little inside) it is so funny that it sounds similar to VP at a tech company, when they have nothing to do with each other.
    It makes me laugh when I notice people at JP get that VP hierarchy title and run to LinkedIn and change their title to (Vice President of JP Morgan ENGINEERING YEEEEHAAAAA) to impress their friends who have no idea. lol
    Nov 24, 2019 0
  • Banks have many VPs, who vary a lot in their responsibility scope, ranging from ICs to managers of managers.Next level is Director which I would say is the first well respected position, something like a L5-L6 at FAANG (pay being lesser though). Next level is Managing Director which is a very respectable position and can range from L6-L10++ levels at FAANG. Some banks have partners over MDs
    Nov 24, 2019 4
    • New oeeL53
      By your logic, if directors are L5 equivalent, then VPs are L4, but you have just said VPs can be managing managers. At G you can get to L4 with 2 YOE, how many L4s do you know at FAANG who are managing managers?
      Nov 24, 2019
    • For the third time, I did not say L5. I am talking about high L5/L6. Check how much experience high L5s/L6s have . VPs are L5 equivalent, obviously they are not paid as such
      Nov 24, 2019
  • McAfee / Other
    mIrt65

    McAfee Other

    BIO
    20+ YOE as a sales engineer.
    mIrt65more
    Banks are special. They are extremely heavy on VP titles. At one point my company (7K employees) was doing business with a bank that had more VP titles than our total count worldwide. It makes it fun to bring in similarly titled folks to meet with a customer. Banks are just special like that. Unless they have “executive” in front of it then it means nothing. No offense intended to anyone working there.
    Nov 23, 2019 3
    • Uber 󠀠
      Goldman just made all VPs into Executive Directors in UK to make this even more moot.
      Nov 24, 2019
    • New / Eng curcur
      Wow! Goldman Sucks! lol
      Nov 24, 2019
  • BBDO hPes60
    Vp at chase is tech lead level. Vp maxes out at 180k base.
    Nov 23, 2019 1
    • Uber 󠀠
      It’s not tech lead level but banking tech lead can be a joke of a role
      Nov 24, 2019
  • Intel spyderpig
    Banks have literally thousands of VPs .. it does not carry the same weight..
    Nov 23, 2019 0
  • Microsoft l'amour
    How many CEOs do banks have then?
    Nov 23, 2019 1
    • Apple
      ST8Pr1d3

      Apple

      PRE
      BT
      ST8Pr1d3more
      Believe it or no some back (like Citi) have multiple CEOs. They have CEOs of different divisions or regions. It is silly
      Nov 24, 2019
  • Starbucks / Eng dnsyfreak
    OP
    Bottom line don’t be impressed by what their title is ;)
    Nov 23, 2019 0
  • SAP assie
    At banks VP < Director
    Nov 23, 2019 0

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